Blog Category: realtor

Does It Really Matter Where Your Loan Officer Is Located?

Does It Really Matter Where Your Loan Officer Is Located?

It is very common for realtors to ask a homebuyer who their mortgage loan officer is and where they are located. There is a belief that a lender, and for that matter all the service providers to a real estate transaction, needs to be very local.

 

Realtors assign some magical powers to a mortgage loan officer who is Read More

9 Mortgage Myths To Stop Believing

9 Mortgage Myths To Stop BelievingBuying and financing a new home can be a daunting task and many of us turn to friends and family for advice. But the only experts in the mortgage field….are the experts in the mortgage field! Friends and family might not be the experts they think they are. The mortgage guidelines and interest rates are changing so frequently that unless someone is in the mortgage field as a full-time job, you should only take advice from a mortgage professional. Read More

Is It Better to Overprice or Underprice Your Home For Sale?

brian-martucci-overprice-vs-underprice-home-sale-blogWhen sellers set an asking price for their home I always imagine big dollar signs in their eyes. Most human beings suffer from wishful thinking and confirmation bias. But how should you price your home: high, low or right at market value? If sellers are underpricing they may hope to sell faster, or hope for a bidding war. Overpricing a home may allow you to get more for your house than what it’s really worth with luck that one buyer loves your home. Underpricing or overpricing your home can be a gamble. And the best thing you can do is come to terms with how much your house is really worth. Read More

Working With One Realtor or With a Team

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Real Estate Teams vs. Real Estate Agent

The real estate business is one of the most highly competitive job markets. And all real estate agents are in fact small business owners. They have an ever-growing client list, new leads, open houses, scheduling, marketing, budgeting, mailers, websites, and a never-ending list of responsibilities that seems to demand more and more time. It’s a fast-paced competitive housing world out there. Without the best tools and resources it’s possible to lose your clients to a more established realtor or realty team machine. Read More

Choose Your Lender Based on the Three D’s: Doughnuts, Drinks, and Dinner!

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According to Realtor Magazine, 72% of the time, buyers use the lender that the agent refers. How do lenders meet realtors to get those referrals? Lenders can meet realtors through many methods, but a common one is to ply them with what I like to call the three D’s, bringing doughnuts to the weekly realtor meeting, picking up the tab for drinks, or buying a realtor dinner. The endgame is to make a realtor like you and hope that they become a referral source. Is there a better way? Read More

The Pre-Qualification Letter Fake Out

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I had a client I was working with recently who had a realtor I didn’t know. This realtor wanted to write a pre-qualification letter for an offer they wanted to make on a house, to take a shot at getting the realtor commission, and wanted me to write up a pre-qualification letter for a mortgage amount I did not think the buyer could qualify for. The realtor just wanted to get the property under contract and tie it up to see if we could work it out somehow after the fact. Think this is a rare event? I bet it happens Read More

CRM Databasing for Realtors

RIS Media produces a monthly magazine publication called Real Estate Magazine. I read an article on their website a while back I would like to discuss entitled, “CRM: Cheaper to Keep Em.” Bob Corcoran is a real estate coach and speaker who was interviewed by RIS Media for this article about CRMs, which stands for customer relationship management. CRMs are a type of database software that salespeople use. This blog is geared towards realtors, but it is also important for homebuyers and sellers to see how realtors and mortgage loan officers, or anyone for that matter, organize and use their data.
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Appraisal Challenges

In my experience, there seems to be a lot of confusion about appraisals. I hear a lot of misstatement about how appraisal values are determined. If an appraisal comes in below the agreed upon sales price there is usually a lot of push back, anger, and harshly worded statements about the intelligence of the appraiser. Many sellers, some buyers, and even some realtors use methodology and data that is not accurate. The reality is that there is a way to challenge an appraisal that is quite simple. All you have to do is come up with recent comparable sales (aka comps) that you think are better than the ones that the appraiser used. The problem is what some people come up with for comparable sales are not really viable comps. Read More

How To Choose A Buyer Agent

How do you source a realtor to help you as a buyer agent when you are ready to buy your next home? Face it, most of us go off of a very few opinions from some friends and family, make a mostly ill informed decision, and hope for the best. It is like buying something off of Amazon.com that has 4.5 out of 5 stars, but it only has 3 reviews. Why not buy something off of Amazon.com that has 4.5 out of 5 stars and has 53 reviews, or 198 reviews, or more? Why not know the lifetime history of a realtor that  Read More